International VAT Rate Round Up: March 2025
Philippines
On 30 January 2025, Senate Bill No. 2970 was introduced by the Majority Leader of the Senate.
The Bill proposes the exemption of Value Added Tax (VAT) on electricity sales and internet services, which are currently taxed at 12%.
Additionally, the Bill suggests maintaining a zero VAT rate for energy generated through renewable sources.
A similar proposal, Senate Bill No. 2301, was introduced on 12 July 2023, but its status remains “Pending in the Committee.”
If Senate Bill No. 2970 is approved, it will take effect immediately after its publication in the Official Gazette or at least in two newspapers of general circulation.
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International VAT Rate Round Up: February 2025
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